Posts Tagged ‘Corporations’

Corporations are whining about taxes — still!

For years American corporations have bemoaned their high corporate taxes while fleecing the American people and watching the country fall apart.

We were warned about the potential evil of corporations years ago by Dwight D. Eisenhower as he left office — telling us to beware of the military-industrial complex and what it would do to our country.

The Repatriation Bill in Congress falls way short!

Corporations have been crying for big tax breaks to bring their profits from other countries home. They are currently sitting on over two trillion dollars in domestic profits hoarded over the last few years.

Senators’, Kay Hagan, of North Carolina and, John McCain, of Arizona have introduced a new bill, The Foreign Earnings Repatriation Act, to allow multi-national corporations to bring over a trillion dollars in foreign profit back to the United States at a favorable tax rate. Too favorable!

Corporations want a tax break to repatriate foreign profits—again!

Republicans, global corporations, the Chamber of Commerce, and Republican lawmakers are claiming that a tax rate of 5% for corporations to repatriate their foreign profits will create jobs, stimulate capital investment, and grow the economy.

We’ve heard that song before—the same pathetic rhetoric—in 2004. But the corporations did not use the billions they repatriated from the American Jobs Creation Act of 2004, to create jobs or grow the economy.

In fact, the biggest recipients—some of the biggest multi-national corporations in the world—laid-off thousands of employees after receiving this gift from the government.

For an American citizen to run for elected federal office today requires huge sums of money; well beyond the imaginations of our Founding Fathers. Clearly they didn’t envision this.

Nor did the wise patriots that constructed the Constitution envision ‘professional’ politicians. They anticipated regular citizens becoming politicians to help run the government ‘for the people,’ then returning to private life after fulfilling an honorable and short-term patriotic duty ‘to the people’ of this great country.

Pure and uncorrupted democracy.

We no longer have a pure, uncorrupted form of democracy. It’s been stained by dirty corporate money; a malodorous patina that may take years to expunge.

It’s obvious things have changed in the electoral process and in the makeup of Congress. Not necessarily for the good. Corruption at varying levels permeates the halls of Capitol Hill. American’s are disgusted and outraged at Congress, evidenced by their current approval rating of 18 percent.

‘The People’ no longer matter in the modern operation of our government.